Paul Atkins, former CEO of Patmakak Global Partners, former Paul Atkins, took over the Presidency of the Stock Exchange Commission (SEC) after a warm approval hearing before the Senate Banking, Housing and Urban Affairs Committee by the US Senate.
Trump nominated Atkins in December and replaced the former president Gary Gensler, who left a trace of lawsuit against crypto firms and his weight. So far, Mark Uyeda has been working as an acting chair.
During the opening lyrics, Atkins made it clear that SEC plans to take back its current approach. He said to the Senate panel that the current regulatory environment for our financial system has prevented investment and often punishes success ”.
HE named The rules said that they killed the formation of capital “uncertain, overly politicized, complex and burdensome” and capital. Atkins said today that investors çalıştır overflowing with explanations that make the opposite of helping to understand the real risks of an investment ”and calling for a full reset of SEC’s priorities.
Warren blames Atkins of hiding a 25 million dollar patmakak agreement
Elizabeth Warren, a high -level democrat and for a long time in the Banking Committee, called Atkins as “breathtaking” conflicts of interest caused by the ownership share of the consulting firm Patmakak, a consulting firm working with large banks, trade groups and investment giants.
Warren asked Atkins directly: mıs Are you going to explain who the buyers are and how much they pay, so we can be sure that they are not people who buy access to SEC’s future chair? ” “Senator Warren, I followed the process of the Ethics Office of the Government.” He replied. Warren said, “So this is a ‘no’-you will not tell who you sell it and how much money you get. Some people can call it a pre-relative.”
His concern focuses on Atkins’s plan to evacuate his ownership in Patok, which has more than $ 25 million, and he was probably in a position to make regulatory calls that could benefit his old customers. He said that after the presidency, Atkins would be at a point to be delivered for all these customers ”.
At the beginning of the week, Warren sent Atkins a 34 -page letter about his departure from Patmakak and his plans to navigate in potential conflicts. He said that his team answered only 10 minutes before the hearing and said, “No, you think you did enough.” “This is deeply about me,” he said to the room.
Despite the recoil, Atkins promised to reproduce himself for a year from any subject related to Patmakak in ethical documents or any of his customers. This did not slow down the Warren or other democrats on the panel, which doubted how far Atkins could stay away from the firms where he advised for ten years.
Atkins, the promise of revision of softer stance against crypto
Atkins organized plans to delete Gensler’s execution-execution game book. Instead of going down and then asking questions, he said that the agency should support functional markets and only use applications to çok Healing and correcting corrupt actions ”. He wants SEC to help the system to work better, and does not punish conformity.
Atkins addressed the crypto industry directly by saying that one of its biggest goals would be a “rational, consistent and principled approach ile with congresses and other commissioners.
The Committee President Senator Tim Scott had a chance of Gensler during his term of office, and Atkins said, şey Something I can say about the SEC, the lack of a golden age under your predecessor ”. Scott listed a handful of what he calls the regulatory chaos and said he had lost his path.
Atkins replied, saying that the issues were “disturbing, and added that he plans to“ improve dysfunction and morale ”and reconstruct the morale. “We have to go back to duty,” he said. He wants to shift SEC from politics and clarity.
Chris Van Hollen questioned Atkins about the future of the Public Company Accounting Oudal Board (PCAOB). Atkins said that the Board could endure the SEC but not in favor of raising it. “The function is vital,” he said.
When Jim Banks increased ESG investment and the rise of the Gensler, Atkins said, “How to remove politics from financial markets and how SEC interacts with financial markets”. “This will end and we will have guards to focus on investment strategy, not politics.”
Kennedy, Hagerty and Moreno Gensler and Full Fullt Fullt in SBF
The hearing was not all politics. John Kennedy asked Atkins, who will never miss a shot at humor: “Is it true that the Backstreet Boys is the tattoo of Backstreet on the lower back of Senator Hagerty?” He asked. To request answers to how Atkins will cope with Sam Bankman-Fried, the founder of FTX, who is currently destroyed before changing gears. When Kennedy returned to Atkins to express, he warned, “I will attack him like a ninja,” he warned to check the progress of SEC.
Bill Hagerty, a Republican from Tennessee and his long -term friend of Atkins, was a guarantor because of his experience. “Paul has developed a unique understanding of financial markets and regulatory challenges, H Hagerty said that he used Atkins and his team to guide his team in Patmak to guide his investment.
Bernie Moreno burned the reputation of Gensler while praising Atkins. “You should just breathe and you must be a full angry crazy and you will be the biggest Secuder Commissioner compared to the last man, Gens said Gensler is“ objectively one of the most stupid people in the government ,, he added.
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